First, start with a template. There is a sample budget located on our district shared documents online you can begin with as well as one in the back of this manual. If your club had a budget last year I would definitely recommend getting a copy of it. Try to get it as updated as you can according to what money the club spent last year. That will show how much money to budget in your accounts this year. If you cannot get this, then you will have to do a little more work and will need to work closely with your club advisor and president, as well as with me, to get a budget going. First, you need to identify your starting capital. If you are starting fresh with no inheritance funds from the year before, fundraisers will take priority over major events in the beginning of the year. Regardless of your specific situation, your initial capital will give you a starting point, from which you may determine reasonable, reachable goals for the semester. Realizing those goals is the next step. Ask yourself: What events would I like to hold this year? In what events would my members like to participate? What image on campus am I striving to obtain for my Circle K club? Brainstorm a list of events with your fellow executive board members, and determine: size of event, targeted audience, cost of event (including food, venue, transportation, and equipment), planning time, and potential funding sources. Collaborate with your board to identify the priority level for each event. Several factors should go into determining a priority level, but most importantly, the eagerness of the members for this type of event, the feasibility, and the probability of success.
This should help you structure a calendar of events for the year, from which you may start developing your skeleton budget. A skeleton budget is important in determining the general flow of funds at any given time of the year. Skeleton budgets are also great tools to use in proposals when seeking sponsorship from outside sources, such as local Kiwanis Clubs or companies in town. For this reason, I would suggest creating a table in Microsoft Word, as this document would likely be used in a formal presentation or report. The more detailed your skeleton budget is, the more useful it will become.
You will also need to submit a copy of your budget to the District Treasurer once it has been approved by your board of officers. Even if your budget has not been approved by your board, I would still like to see your progress by the end of this semester.